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> It sounds like this is a great example of how 1 bad hire can destroy an entire company. It sounds like this is a very myopic view. My favorite quote is quite

by mbesto 7y ago

> It sounds like this is a great example of how 1 bad hire can destroy an entire company. It sounds like this is a very myopic view. My favorite quote is quite apt here "Assigning single factor causation to the output of complex adaptive system is a triumph of hope over experience." Here's my theory - Coinbase had explosive growth largely due to tailwind effects of the BTC craze several years ago. Since crypto trading has basically flattened coupled with competitors entering the market, then Coinbase is likely no longer growing and may in fact be doing less revenue than it was previously. Company's start to scramble when they cease to grow. Stakeholders double down. Employees start looking elsewhere. Executives make brash decisions based on emotions. etc etc.

repomies691 7y ago
> Company's start to scramble when they cease to grow. Stakeholders double down. Employees start looking elsewhere. Executives make brash decisions based on emotions. etc etc. However also similar stuff is happening in growing companies because of other factors. Also companies often survive quite well even if they don't grow that much. To me it seems like coinbase is still in a very sweet spot. Crypto markets are not going away, and coinbase helds massive first-mover advantage. No matter how much they will fuck up on exec level, they will probably still make good revenues if they just can keep their current service running.
- wslh 7y ago
  > However also similar stuff is happening in growing companies because of other factors. Also companies often survive quite well even if they don't grow that much. That is true but in the crypto scene there were many [extreme] layoffs and closings connected to the last "crypto winter". We can mention big names like ConsenSys, Bitmain, Steemit, SpankChain, and ShapeShift so it is not difficult to think that Coinbase was also impacted.
  - repomies691 7y ago
    SpankChain, wtf is that? Anyway, I don't think crypto winter should be a problem for most exchanges. Unless you predicted future way off and hired too much on 2017 rally. Before 2017 volumes were minisculous compared to 2018 still - business should be good unless the company spent money like crazy.
stcredzero 7y ago
My favorite quote is quite apt here "Assigning single factor causation to the output of complex adaptive system is a triumph of hope over experience." Otherwise known as "magical thinking."

by mbesto 7y ago

repomies691 7y ago

> Company's start to scramble when they cease to grow. Stakeholders double down. Employees start looking elsewhere. Executives make brash decisions based on emotions. etc etc. However also similar stuff is happening in growing companies because of other factors. Also companies often survive quite well even if they don't grow that much. To me it seems like coinbase is still in a very sweet spot. Crypto markets are not going away, and coinbase helds massive first-mover advantage. No matter how much they will fuck up on exec level, they will probably still make good revenues if they just can keep their current service running.

wslh 7y ago
> However also similar stuff is happening in growing companies because of other factors. Also companies often survive quite well even if they don't grow that much. That is true but in the crypto scene there were many [extreme] layoffs and closings connected to the last "crypto winter". We can mention big names like ConsenSys, Bitmain, Steemit, SpankChain, and ShapeShift so it is not difficult to think that Coinbase was also impacted.
- repomies691 7y ago
  SpankChain, wtf is that? Anyway, I don't think crypto winter should be a problem for most exchanges. Unless you predicted future way off and hired too much on 2017 rally. Before 2017 volumes were minisculous compared to 2018 still - business should be good unless the company spent money like crazy.

stcredzero 7y ago

My favorite quote is quite apt here "Assigning single factor causation to the output of complex adaptive system is a triumph of hope over experience." Otherwise known as "magical thinking."